Stock market drop spreads, Wall Street set to fall again

The Shanghai Composite index plunged 5.2 per cent to its lowest level since November 2014 and Japan's Nikkei 225 fell by an unusually wide margin of nearly 4 per cent. Markets across Southeast Asia recorded similar declines. That will raise the cost of corporate borrowing and could drag on economic growth.

On Wednesday, U.S. President Donald Trump said the Federal Reserve "is making a mistake" with its campaign of rate increases.

Stephen Innes of OANDA said that Mr Trump's comments have put pressure on the dollar but "the severity of this equity rout could bring the hawkish Fed narrative into question". "I think the Fed has gone insane". The "latest sneeze" from Wall Street "could morph into a global markets pandemic", he added.

Even though Wall Street posted on Wednesday its biggest drop in eight months, sparking a global equity sell-off, the S&P 500 .SPX remains up 4.3 percent so far this year, while euro zone stocks have lost 7 percent.

Most sectors in Europe were trading in the red, with tech stocks bearing the brunt of early morning selling pressure after the big USA technology stocks that have been the driving force behind a multi-year bull market posted heavy losses overnight.

Earlier this week the International Monetary Fund cut its global economic growth forecasts for 2018 and 2019, saying that trade policy tensions and the imposition of import tariffs were taking a toll on commerce.

U.S. stock futures rebounded 0.6 percent in early Asia on Friday, in part helped by media report that the U.S. Treasury Department will not call China a currency manipulator in an upcoming report.

"There still appears to be downside risk to the market amid worries the Sino-U.S. trade war may be slowing down global growth", said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management in Tokyo.

World stock markets sank Thursday, extending losses from Wall Street as investors anxious that higher interest rates will dent company earnings and a trade war will crimp global business.

By 0845 GMT, the euro zone STOXX .STOXXE index fell 1.2 percent, while the UK's FTSE 100 .FTSE was down 1.6 percent, extending its slide as the pound finds support in expectations that Britain would reach a Brexit deal with the European Union. Dow futures were 1 percent lower at 25,268. It has fallen 7.5% in just five days. The Russell 2000 index of smaller-company stocks shed 2.9 percent, to 1,575.41. Apple slipped by 4.6 percent while Amazon lost 6.2 percent. The Cboe Volatility index.VIX ended the day up at 24.98, its highest close since February 12, a day after the S&P 500 dropped more than 3 percent in its biggest daily decline since February 8. Amazon has soared 50 percent this year, but its stock has fallen 14 percent from its all-time high in early September.

The fall in USA yields helped push the dollar lower as it undermines the attraction of investments in dollar bonds.

"The valuation of USA stocks, especially tech stocks, is still pretty high and there could be some profit taking actions now", Tan explained.

Euro zone third-quarter earnings are expected to rise 12 percent, almost half the 21 percent growth rate expected for the United States, according to Refinitiv IBES data.

The dollar rose to 112.34 yen from 112.27 yen late Wednesday. The contract settled at $73.17 in NY. Brent crude, the worldwide standard, dropped 76 cents to $82.33 a barrel.

The union made no official comment, but a Variety source says a representative visited the set and resolved the situation. Set images and video of a subway scene have leaked online showing off some sort of riot scene.

The facility is the only USA port able to fully load and unload tankers with a capacity of 2 million barrels of oil. Energy Information Administration (EIA) is due to release official government inventory data Thursday at 11 a.m.

Thanks to Google Assistant , the Mi Box S will also control your supported smart home devices such as the thermostat and lights. Now that Google doesn't have any first-party Android TV boxes, it's nice to see Xiaomi step in with an affordable option.

Marvel also typically lets the stars get bonuses of up to several million dollars based on the film's performance. To everyone in front of the camera, behind the camera, and in the audience, thank you for the memories!

This is a bold move by DC, which has been losing the cinematic war with Marvel pretty much since the jump. So, we are hoping that Gunn's addition to the squad would help Suicide Squad 2 put up a better show.

Sure, the "TV" app has helped with that now, but it still need to be improved in order to be as helpful as users want it to be. Apple now has at least 24 original shows or movies in production, including content from Oprah Winfrey, Steven Spielberg , J.

The lack of awareness and the severe shortage of mental health professionals in the country add to the problem. While social media keeps people connected, it builds additional pressure to project only the best.

Earlier it was reported that the company SpaceX has made the launch, moving into space, the Argentinean satellite. Apart from this it will predict pestilence and can even give an alert about the natural disasters like floods.

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